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| Name: |
John C
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| Subject: |
Home and Lot Sales Through July 31
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Date:
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8/28/2013 11:18:04 AM
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Hey all, I just posted my latest market report. Home sales are again good in 2013, but what really is the story to me is lot sales. I wrote this article for the September Issue of Lake but I thought I would post a sneak peek here:
URL: Lake Martin Lots Selling Hot
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| Name: |
lucky67
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| Subject: |
Home and Lot Sales Through July 31
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Date:
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8/28/2013 1:16:11 PM
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interesting--how much of the spurt is due to Ala Power releasing new lots ? I never stopped lot or construction financing even through the "down" years as the local & big banks did
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| Name: |
Mike Hunt
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| Subject: |
Home and Lot Sales Through July 31
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Date:
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8/28/2013 1:38:39 PM (updated 8/28/2013 1:48:39 PM)
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John, what is your take on the PP problem and what will it do regarding sales and prices. Rumor says that all of those properties have been taken off the market. What about market supply numbers
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| Name: |
roswellric
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| Subject: |
Home and Lot Sales Through July 31
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Date:
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8/28/2013 9:39:01 PM
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John what is the absorption rate of lake lots and when will inventory be in balance with demand to allow price increases? Seems there are 2 tiers; Lots under $200K and those in the higher end developments.
Thanks!
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| Name: |
Osms
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| Subject: |
Home and Lot Sales Through July 31
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Date:
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8/29/2013 9:52:47 AM
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APCo has released all the lots in Emerald shores this spring and the bulk of this years sales come from that subdivision, and I've heard APCo is selling some lots in a small subdivision in the Jackson Gap area. Also, APCo is in the process of selling off about 125 currently developed leased lots. For those of you who think a lease lot from APCo is a dead end street, think again. I believe about 1,700 homes on the lake were one time APCo lease lots. I know I'm happy.
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| Name: |
John C
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| Subject: |
Home and Lot Sales Through July 31
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Date:
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8/29/2013 11:27:55 AM
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these are some great questions, I think I will need to do another blog post to cover them all.
real quickly:
1. Emerald shores was about 1/3 of the sales so far. Remove them and Lake Martin is still on pace with last year. Include them, and we destroy last year. I am honored to be the listing agent at Emerald Shores. The first go around at Emerald Shores - it was for sale for about 2 years starting in 2004. I was not involved. Out of 46 lots they sold 17 or 37% in that time frame. This year we've had the remaining 29 lots for sale for 166 days and we have closed 16 or 55%. True, other agents have brought most of the buyers, so I am not representing that I did that. But I am very pleased at the total effect of our marketing plan, that is, to put all info out on the MLS, and the web, and market fully to buyers while empowering other agents, rather than trying to shut other agents out in an attempt to horde the business. I have seen that hording or silo tactic at LM and other markets, for lots or condos or whatever. I believe deep down that to try and horde buyers is an outdated, futile sales tactic that does not do your seller justice.
2. Yes, AP is selling another neighborhood - Shady Bay (see link below) - I am pleased to be the listing agent on that as well.
3. The leased lots that AP has been selling to the home owners are not included in the MLS figures
4. Pleasure Pt - right now I see that one is still for sale in the MLS
5. Absorption - I think absorption is about the same as in the last couple of years but I would have to crunch the numbers to be sure.
6. Prices - surely after this year we will finally see a price increase, but, like #5 above, I would have to see it in the numbers first. My gut tells me there is some upward pressure this year. But I need to see it in the numbers before I feel comfortable proclaiming it.
URL: Shady Bay Lots For Sale
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| Name: |
Mike Hunt
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| Subject: |
John
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Date:
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8/29/2013 12:12:43 PM
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Would you recommend that a buyer buy that PP home or any other PP home on a sublet lot?
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| Name: |
John C
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| Subject: |
John
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Date:
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8/29/2013 12:19:12 PM
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I would if the buyer signed a disclosure, acknowledging that they are aware of the situation, and that they absolve the seller and all agents of any liability. Otherwise, no. I would not recommend nor participate in any attempt to sneak something like that past a buyer.
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